More On Insurance Industry Tactics And The Power Of The Media
As a follow up to Sunday’s blog, Is Property Insurance Propaganda and its Impact on Public Policy Similar to What the Health Insurance Industry Does?, I have linked to an interview Wendell Potter gave to Democracy Now!, that aired on July, 16, 2009. In this fascinating and engaging interview, Potter explains why he decided to become a whistleblower, and he details the media strategies behind some of the health insurance industry’s biggest embarrassments and most publicized tragedies. He also talks about how the health insurance industry is now consolidated in just a few companies, how it rids itself of risky (sick) policyholders, and the scare tactics they use to influence public opinion and maximize profits.
While Potter discusses the health insurance industry, the parallels to the property insurance industry are strong and undeniable. As we are now seeing State Farm use similar scare tactics and threats of insolvency to dump Florida policyholders, one can’t help but wonder about the tactics the industry has used in the face of past catastrophes.
Public whistleblowers in the insurance industry are rare, and this is a fascinating interview that reveals industry tactics and strategy. I highly recommend listening to or watching this interview. Regardless of your opinion on the health insurance industry, this rare insight into how the industry tries to influence public opinion is worth an hour of your time.
State regulators, IMO, should be auditing insurers from the "policy-consistent" perspective I just described in a short post "over yonder". Wish I'd read this earlier instead of just taking a quick look but I'll add a comment with a link and explain the connection in that perspective. (and will also stick a reminder on my computer to read you earlier in the day from now on!)
It appears that Mr. Potter could no longer "sleep at night" if you will. I invested an hour of my life (at your urging, Mr. Merlin) listening to what he had to say and I believe the term "Whistleblower" (which sounds derogatory) should be changed to "THE PEOPLE'S HERO." Mr. Potter is a hero (in my opinion). I can certainly relate to his "industry realization."
Further, no matter what industry one seeks to "expose," the "hero" name should still apply - and I hope these "heroes" are being compensated for not only their act of heroism, but for them most certainly being unable to find employment in a field they may have truly loved - but for the greed, corruption, toxic behavior, etc., that they encountered in their profession.
SHIRLEY HEFLIN